Reformation of Dispute Settlement Mechanisms for International Trade Organizations: Ensuring Developing Country Interests

Abstract

Regional Trade Agreements (RTAs) are frequently advantageous for developing countries and can help them prepare for future trade opportunities provided by the World Trade Organization (WTO). Developing countries face a dilemma when disputes occur within an RTA; the WTO Dispute Settlement Body (DSB) tends to be too costly and inaccessible, while RTA dispute settlement mechanisms (DSM) tend to be underdeveloped and immature. In order to minimize the cost of dispute resolution and better safeguard the interests of developing nations and regional trade agreements, which are frequently more beneficial to developing countries, this paper describes why and how the WTO should change its dispute settlement procedures. It also argues that these systems should be established to make the WTO's dispute resolution mechanisms more effective.